Infosys (NYSE:INFY) Shares Gap Up – Here’s What Happened

Infosys Ltd. (NYSE:INFY) shares gapped up prior to trading on Monday . The stock had previously closed at $10.94, but opened at $11.40. Infosys shares last traded at $11.3550, with a volume of 1,501,949 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a report on Wednesday, June 24th. Susquehanna decreased their price objective on shares of Infosys from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Infosys in a research note on Monday, June 8th. Wells Fargo & Company set a $11.00 price target on shares of Infosys and gave the company an “equal weight” rating in a report on Friday, June 26th. Finally, Stifel Nicolaus set a $15.00 price objective on Infosys in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.75.

Infosys Stock Performance

The company has a market capitalization of $46.44 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.42 and a beta of 0.90. The business’s 50-day simple moving average is $11.84 and its 200-day simple moving average is $14.18.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 EPS for the quarter. The business had revenue of $5.04 billion during the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%. On average, analysts forecast that Infosys Ltd. will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

Institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC raised its holdings in Infosys by 17.0% during the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after buying an additional 3,893,801 shares during the period. Trinity Street Asset Management LLP raised its holdings in shares of Infosys by 45.5% during the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after acquiring an additional 4,674,742 shares during the period. Dimensional Fund Advisors LP lifted its position in Infosys by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock valued at $105,206,000 after acquiring an additional 52,393 shares in the last quarter. Bank of America Corp DE boosted its stake in Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after purchasing an additional 469,843 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Infosys by 8.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after purchasing an additional 521,169 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors and hedge funds.

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.